Keyword: balancedbudget

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  • The Constitutional Amendment That Would Rein in Spending

    02/08/2018 5:37:54 PM PST · by Tolerance Sucks Rocks · 21 replies
    The Daily Signal ^ | February 7, 2018 | Walter E. Williams
    Some people have called for a balanced budget amendment to our Constitution as a means of reining in a big-spending Congress. Thats a misguided vision, for the simple reason that in any real economic sense, as opposed to an accounting sense, the federal budget is always balanced. The value of what we produced in 2017our gross domestic producttotaled about $19 trillion. If the Congress spent $4 trillion of the $19 trillion that we produced, unless you believe in Santa Claus, you know that Congress must force us to spend $4 trillion less privately. Taxing us is one way that Congress...
  • Let's Limit Spending

    02/07/2018 5:24:38 AM PST · by Kaslin · 13 replies
    Townhall.com ^ | February 7, 2018 | Walter E. Williams
    Some people have called for a balanced budget amendment to our Constitution as a means of reining in a big-spending Congress. That's a misguided vision, for the simple reason that in any real economic sense, as opposed to an accounting sense, the federal budget is always balanced. The value of what we produced in 2017 -- our gross domestic product -- totaled about $19 trillion. If the Congress spent $4 trillion of the $19 trillion that we produced, unless you believe in Santa Claus, you know that Congress must force us to spend $4 trillion less privately. Taxing us is...
  • Let's Limit Spending: Why a Balanced Budget Amendment is not the key to our Big Government problems.

    02/06/2018 8:32:56 AM PST · by SeekAndFind · 16 replies
    Frontpage Mag ^ | 02/06/2018 | Walter Williams
    Some people have called for a balanced budget amendment to our Constitution as a means of reining in a big-spending Congress. That's a misguided vision, for the simple reason that in any real economic sense, as opposed to an accounting sense, the federal budget is always balanced. The value of what we produced in 2017 our gross domestic product totaled about $19 trillion. If the Congress spent $4 trillion of the $19 trillion that we produced, unless you believe in Santa Claus, you know that Congress must force us to spend $4 trillion less privately. Taxing us is...
  • How Tennessee Could Be About To Start A Constitutional Crisis (Article V)

    02/22/2017 10:54:09 PM PST · by Perseverando · 86 replies
    Zero Hedge ^ | February 22, 2017 | Tyler Durden
    The State Senate of Tennessee has laid the legislative groundwork for something that hasn't been done in the United States of America since the Constitutional Convention of 1787 in Philadelphia. With a vote of 27-3, the Tennessee Senate has voted to call a "convention of the states" in order to draft and pass an amendment to the Constitution that would require balanced budgets to be passed every year. For those who are little fuzzy on their high school U.S. history knowledge, the Tennessean explains that the U.S. Constitution can be amended in two ways. The first would require a two-thirds...
  • Unsustainable model: Economist says 'balanced budget' adage doesn't work

    01/22/2017 7:13:32 PM PST · by Tolerance Sucks Rocks · 39 replies
    The Montana Standard ^ | January 22, 2017 | Tom Lutey
    BILLINGS -- As bipartisan crowd-pleasers go, few get Montanans nodding more approvingly than calls for a balanced federal budget, which is why U.S. Sen. Steve Daines recently offered a bill forcing his peers to go unpaid unless they reign in spending. As I travel around Montana, as I did in December wrapping up a 56-county tour, when I talk about this bill, its a bill that will literally bring applause from across the state, Daines told The Gazette. The state of Montana balances its budget. The federal government should do the same, or so goes the narrative that literally every...
  • Trump taps conservative SC Rep. Mulvaney as budget chief

    12/16/2016 7:13:08 PM PST · by Olog-hai · 30 replies
    Associated Press ^ | Dec 16, 2016 9:35 PM EST | Andrew Taylor
    President-elect Donald Trump has tapped South Carolina GOP Rep. Mick Mulvaney as his budget director, naming a tough-on-spending conservative and an advocate of balancing the federal budget to the important post. An official on Trumps transition team, who was not authorized to speak publicly on the matter before it is officially announced, confirmed Trumps pick Friday evening. Mulvaney, 49, was elected in the 2010 tea party wave and is a founder of the hard-right House Freedom Caucus, whose members pushed former Speaker John Boehner from power and have caused heartburn for current Speaker Paul Ryan. He is one of the...
  • Failed Republicans Want to Rewrite the Constitution

    05/29/2016 1:44:33 PM PDT · by Dalberg-Acton · 15 replies
    The Eagle Forum ^ | May 25, 2016 | Phyllis Schlafly
    Did you ever wonder why unsuccessful candidates merely suspend their campaigns after losing a key primary, instead of terminating them? Surely all those candidates knew that its impossible to restart a presidential campaign once its been suspended. In the famous words of Theodore Roosevelts daughter Alice Longworth, You cant make a souffl rise twice.
  • House resolution calling for Article V Convention approved by Senate

    03/13/2016 3:45:00 PM PDT · by cotton1706 · 18 replies
    CHARLESTON, W.Va. After some debate Saturday afternoon, the Senate joined the House in approving a resolution that would put West Virginia on the list of states supporting an Article V Convention for consideration of a balanced budget amendment to the U.S. Constitution. Though shorter than the Houses debate, similar arguments were made before a 17-16, party-line vote in favor of the measure. The Senate originally proposed its own Article V Convention resolution, S.C.R. 10, that also included limiting the power and jurisdiction of the federal government and limiting the terms of office for its officials and for members of...
  • How a Balanced Budget Amendment Gives the Feds Power Over Whatever They Want – Part 1

    01/24/2016 8:45:44 AM PST · by Oldpuppymax · 5 replies
    Coach is Right ^ | 1/24/16 | Publius Huldah
    Does our existing Constitution permit the federal government to spend money on whatever they want? No! It contains precise limits on federal spending. Federal spending is limited by the enumerated powers delegated to the federal government. If you go through the Constitution and highlight all the powers delegated to Congress and the President, you will get a complete list of the objects on which Congress is permitted to spend money. Here’s the list: • The Census (Art. I, §2, cl. 3) • Publishing the Journals of the House and Senate (Art. I, §5, cl. 3) • Salaries of Senators and...
  • Cruz: ‘We Need Quite A Few Constitutional Amendments’

    01/09/2016 8:17:09 AM PST · by Isara · 171 replies
    Daily Caller ^ | 01/09/2016 | Kerry Picket
    MASON CITY, Iowa–Texas Republican Sen. Ted Cruz wants to add a number of amendments to the U.S. Constitution. He told reporters Friday at the Praise Community Church he would like to see amendments added pertaining to a balanced budget, term limits, and restoring power to state legislatures.“We need quite quite a few constitutional amendments,”Cruz said. "I will fight hard for a balanced budget amendment including also a term limits amendment. I think a term limits amendment is absolutely critical. If you look at the abuses of power we're seeing in Washington-term limits for members of Congress and the Supreme court."He...
  • Amendment to Balance the Federal Budget May Die in GOP House Committee

    12/10/2015 7:09:24 AM PST · by MichCapCon · 2 replies
    Capitol Confidential ^ | 12/7/2015 | Jack Spencer
    Barring the unforeseen, the state House will not vote this year on legislation to place Michigan in an interstate compact petitioning for a federal balanced budget amendment. The measure appears to lack sufficient votes in the House Financial Liability Reform Committee, making it unlikely that the bill will reach the House floor before the New Year. Senate Bill 306 was passed by the Senate with a 26-11 vote on Sept. 17. The legislation would authorize Michigan’s membership in a Compact for a Balanced Budget. According to MichiganVotes.org, the bill would “use the device of a multistate compact to submit an...
  • How Ted Cruz Would Balance the Budget

    11/12/2015 8:54:24 AM PST · by conservativejoy · 36 replies
    American Spectator ^ | 11/12/2015 | Peter Ferrara
    As he made clear, he's not going to 'pay' for more big government business as usual. At the CNBC debate on October 28, Ted Cruz 97%released his tax reform proposal, which I believe is the best of all the presidential candidates' plans. At Tuesday night's debate, Cruz released a spending reduction plan showing how he will pay for the tax cut involved in the tax reform plan. For the individual income tax under his tax reform, Cruz's plan provides for one flat rate of 10% on everything – wages, capital gains, dividends, personal business income, rent, interest, and all other...
  • Were Not That Far from a Balanced Budget

    09/29/2015 6:58:54 AM PDT · by SeekAndFind · 17 replies
    National Review ^ | 09/29/2015 | Kevin D. Williamson
    Americans are funny about taxes: When we complain about them, we dont moan that we are paying too much we lament that others are paying too little. In a Pew Research Center poll last year, only 27 percent of Americans cited their own tax liabilities among their complaints about the tax code, while 64 percent complained that other taxpayers the wicked 1 percenters, the dreaded corporations were getting off too easy. If youve ever met anybody who believes that we can balance the budget by cutting foreign aid, that the Social Security trust fund is a real...
  • Phony Constitutional Amendments

    08/02/2015 6:31:07 AM PDT · by Kaslin · 54 replies
    Townhall.com ^ | August 2, 2015 | Steve Chapman
    How do you know when a presidential candidate is being deceptive? No, silly, not when his or her lips are moving. Candidates often tell the truth -- like when they say they want your vote or your money. Moving lips are not a reliable clue. So what is? Any statement that envisions an amendment to the U.S. Constitution. _Politicians often act as though the Constitution is a sacred text handed down from heaven, like the Bible. Unlike the Bible, though, they have all sorts of recommendations for improving it. These proposals fall into two general categories: hopeless fantasies and pathetic...
  • It's Not Politics, It's Math

    06/29/2015 11:19:04 AM PDT · by SatinDoll · 15 replies
    The Market-Ticker ^ | June 29, 2015 | Karl Denninger
    No, really? (smiley face) The debt is not payable, Mr. Garca Padilla said. There is no other option. I would love to have an easier option. This is not politics, this is math. Well I'll be damned. On the other side of the table, of course, are hedge funds that bought the debt when Puerto Rico got in trouble at a deep discount and expect 100 cents on the dollar. They're not inclined to bargain, and will now (of course) look to the government to hand them a gun to use on Padilla. Unfortunately that doesn't change the math either....
  • Germany eyes modest tax cut next year

    05/09/2015 4:49:38 AM PDT · by Berlin_Freeper · 6 replies
    expatica.com ^ | 7th May 2015 | AFP
    ... In January, the German government said that in 2014 it had managed to balance its books for the first time since 1969, a year ahead of target.
  • Ted Cruz: Im EMPHATIC Balanced Budget Supporter, Want Means Tested Social security

    03/25/2015 8:13:32 AM PDT · by SeekAndFind · 93 replies
    Breitbart ^ | 03/25/2015 | Ian Hanchett
    Senator and presidential candidate Ted Cruz (R-TX) said he was an emphatic advocate of a balanced budget amendment, and expressed support for means testing Social Security and raising the retirement age on Mondays Hannity on the Fox News Channel. I think the penny plan has an awful lot of force to it, and I am an emphatic advocate of a Balanced Budget Amendment Cruz stated. Cruz added, youre going to be hard pressed to come up with a cost-cutting program that Im not going to support. I do think the military, we need to look at the growing national security...
  • Conservatives start new push for 'balance[d]' [budget amendment] in the Constitution

    01/18/2015 4:42:25 AM PST · by Cincinatus' Wife · 22 replies
    The Hill ^ | January 18, 2015 | Rebecca Shabad
    Conservatives in Congress are reviving the push for a balanced-budget amendment to the Constitution now that Republicans control both houses of Congress. GOP lawmakers in both chambers have filed several amendment proposals in the early days of the congressional session, breathing new life into an issue that had faded somewhat from the agenda. I came here with a clear mission: work to get a balanced budget and do my best to reduce the size and scope of government, so that our small businesses and farm families can grow and create jobs, said Freshman Rep. David Rouzer (R-N.C.) in a recent...
  • Gallup: Approval of Congress Went Up After Govt Shutdown of 1995-96

    10/01/2013 4:33:53 PM PDT · by Olog-hai · 2 replies
    Cybercast News Service ^ | October 1, 2013 - 8:44 AM | Terence P. Jeffrey
    After the federal government shutdown for 21 days from mid-December 1995 to early January 1996, the percentage of Americans who said they approved of the job Congress was doing increased, according to the Gallup poll. At the same time, the percentage of Americans who said they approved of the job then-President Bill Clinton was doing remained the same, and the percentage who said they approved of the job then-House Speaker Newt Gingrich was doing dropped by only two points. The government shutdown from Dec. 16, 1995 to Jan. 6, 1996, occurred when the Republican-controlled House of Representatives was trying to...
  • Defend Europe, if you still dare

    08/08/2013 11:44:56 AM PDT · by ScaniaBoy · 7 replies
    Daily Telegraph ^ | 8 August, 2013 | Ambrose Evans-Pritchard
    This from the ECB's monthly bulletin today: The youth jobless rate in Greece has just reached 64.9pc. Little to add. This is pure policy error. Europe has needlessly pushed the whole EMU bloc into a deep double-dip recession, and the longest unbroken contraction since World War Two.